Transforming from market player to market maker
In 2012, Shikun & Binui Ltd., the leading infrastructure and development company in Israel with a rich, 100-year history, expanded their reach into the United States market by establishing S&B USA. The focus was on the development of assets under a P3 delivery model. The SH 288 project, in which S&B is a member of the concessionaire (BTG) and a partner in the construction joint venture (AGC), was the first such project the group had in the US.
Eventually, S&B USA wanted to take the next steps towards establishing a more dominant presence in the United States, and began searching for self-performing competencies, which led to S&B USA acquiring the parent company of both Fay and Fay Southeast in 2019. This relationship benefitted both parties, as it gave Fay and Fay Southeast access to Shikun & Binui's global knowledge and experience in large design-build and P3 projects, while S&B USA gained self-perform expertise and capabilities in the United States market.
At the age of 53, when most men were looking forward to retirement, Joseph B. Fay was just beginning to leave his mark. After a lifetime of service as a key figure in the construction firm of Booth and Flinn where he played an instrumental role in projects such as the Liberty Tunnels, Westinghouse Bridge and Dravo shipyards, Fay decided to strike off on his own, and he launched the venture that now bears his namesake.
The Joseph B. Fay Company (now Fay) was founded in 1947 in Pittsburgh, PA. Then, the company was small, but capable—Fay's first client, Duquesne Light, remains a loyal customer to this day. Joseph was a straightforward man, and even after his death in 1981, his legacy remained in Fay's original business philosophy: Do the job right the first time safely—with honesty, fairness and quality.
In 1982, two brothers started a marine and heavy civil company based in Virginia Beach that specializes in marine work, piling, and highway and bridge construction. After 30 years of building their trade-related knowledge and experience, the enterprise was acquired in 2012 as Fay's sister company in the Virginia area, and was rebranded as Fay Southeast, S&B USA Construction.
S&B USA is now a market maker. In addition to growing our legacy in construction and concessions through innovations, we are currently pursuing the eMobility market in order to provide charging solutions to make it easier for consumers to adopt electronic vehicles. This branch is part of a larger ESG effort, where we work to make the future a better place for generations to come. The world is changing, and S&B USA adapts to keep up with innovation to continue our legacy in the infrastructure market.